BrilliA Closes $10M IPO

BrilliA Inc (BRIA) today announced the closing of its previously announced initial public offering of an aggregate of 2,500,000 Class A Ordinary Shares (the “Offering”) at an offering price of $4.00 per share to the public, for a total of $10,000,000 in gross proceeds to the Company, before deducting underwriting discounts and estimated offering expenses. The shares began trading on the NYSE American stock exchange on November 27, 2024, under the ticker symbol "BRIA."

In addition, the Company has granted the underwriters an option, exercisable within 45 days from the closing date of the Offering, to purchase up to an additional 375,000 Class A Ordinary Shares at the Offering Price, representing 15% of the Class A Ordinary Shares sold in the Offering.

The net proceeds from the initial public offering are expected to be used for development of the digital marketing platform, research and development, expansion of existing B2B business, and general working capital and corporate purposes.

The offering was conducted on a firm commitment basis. A.G.P./Alliance Global Partners (“A.G.P.”) was the sole Book-Running manager for the offering. Mourant Ozannes LLP acted as Cayman Islands and British Virgin Islands legal counsel and Ortoli Rosenstadt LLP acted as U.S. legal counsel, respectively, to the Company, and Lewis Brisbois Bisgaard & Smith LLP acted as U.S. legal counsel to A.G.P. for the Offering.

The Offering was conducted pursuant to the Company’s Registration Statement on Form F-1 (File No. 333-282056) previously filed with and subsequently declared effective by the U.S. Securities and Exchange Commission (“SEC”) on November 19, 2024. The Offering was made only by means of a prospectus, forming a part of the registration statement. Electronic copies of the final prospectus relating to the Offering may be obtained for free by visiting EDGAR on the SEC’s Website at www.sec.gov . Alternatively, copies of the prospectus relating to the Offering may be obtained, when available, from A.G.P./Alliance Global Partners, 590 Madison Avenue, 28th Floor, New York, NY 10022, by phone at +1 (212) 624-2060, or by email at Această adresă de email este protejată contra spambots. Trebuie să activați JavaScript pentru a o vedea. .

This press release has been prepared for informational purposes only and shall not constitute an offer to sell or the solicitation of an offer to buy any securities, and no sale of these securities may be made in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction.

Source: Investing.com